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Re: OT : Football millionaires who are broke now

I just read a sad story about Jim McMahon. Not only is he broke, but starting to suffer from early dementia.

Maybe the money problems with some of these guys stem from severe, undiagnosed brain damage. Like Ali, they call it parkinsons but really these guys brain injuries stem from the repeated blows to the head they take. It isn't just the aging factor, these guys brains are scrambled at an incredibly young age.

Re: OT : Football millionaires who are broke now

sad. not good when a 24 year old gets a pile of $; all to often he runs thru it and hits 30 and doesn't have the revenue stream (LOTS of pro athletes only have 3-5 year careers). easy to feel contemtpuous towards them but many guys just don't think straight at that age. I think that's why the Ravens target character big-brother type players, whether drafted (Torrey Smith) or not (Jameel McCLain).
I remember Jim McMahon taking a beating (esp late in his career, with Vikings) and wondering if it was really worth it. hard to walk away from the NFL...

Re: OT : Football millionaires who are broke now

It takes a lot of knowledge to know how to handle money in the sums that these players are making. Many of them have no knowledgeable family backing to assist them. There are more people out there with a plan to separate them from their money than there are people who are actually trying to look out for their best financial interests. Throw in a marriage and divorce, a failed business opportunity and being broke becomes a reality.

Re: OT : Football millionaires who are broke now

I can't feel sorry for them because they are no different than me now. I don't feel sorry for myself for not having much money, so why would I feel sorry for them? The only difference between them and me is they had it before, and I never did.

Re: OT : Football millionaires who are broke now

Reality check: The percentage of NFL players losing their shirts is no different than those in the rest of society. How many millionaires lost it all either through divorce, failed business ventures or just plain thievery? How many average Joes have lost it all through bad investments in an economic downturn or just living above their means? The big picture says a very small percentage in every case. In life there will always be more winners than losers. So then why is there such a need to focus on losers?

Re: OT : Football millionaires who are broke now

Originally Posted by rastaman831226

Reality check: The percentage of NFL players losing their shirts is no different than those in the rest of society. How many millionaires lost it all either through divorce, failed business ventures or just plain thievery? How many average Joes have lost it all through bad investments in an economic downturn or just living above their means? The big picture says a very small percentage in every case. In life there will always be more winners than losers. So then why is there such a need to focus on losers?

Clearly, you didn't watch the documentary.

Athletes are well ABOVE the national average and the documentary touches on that.

WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.

It doesn't shock me that athletes end up broke so often. They're the worst case scenario in terms of wealth retention.

Frequently from poor backgrounds with large families, young, getting a large amount of money up front and then (frequently) significantly less, incredibly short time frame in which to earn a lifetime's worth of income, often expected to lead a certain high rolling life style by their peers and hangers on, and very few are actually getting good advice from the people around them.

Recipe for disaster.

My motto was always to keep swinging. Whether I was in a slump or feeling badly or having trouble off the field, the only thing to do was keep swinging. -Hank Aaron

Re: OT : Football millionaires who are broke now

Yeah, losers. They are human. Who is to say you would not do the same thing? And did you read the article, Kosar's dad mis-invested his money.

Originally Posted by rastaman831226

Reality check: The percentage of NFL players losing their shirts is no different than those in the rest of society. How many millionaires lost it all either through divorce, failed business ventures or just plain thievery? How many average Joes have lost it all through bad investments in an economic downturn or just living above their means? The big picture says a very small percentage in every case. In life there will always be more winners than losers. So then why is there such a need to focus on losers?